AINewsBreaks – Freight Technologies Inc. (NASDAQ: FRGT) Secures Additional Funding to Support Growth

Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”) is a technology company with a custom-developed Fr8App, an industry-leading freight-matching platform powered by AI and machine-learning, offering a real-time portal for B2B cross-border and domestic shipping within the USMCA region. The company today announced an increase in its convertible note facility by $3.3 million to $9.9 million in addition to renewing its collateralized lending facility for $5.0 million. Fr8Tech agreed to amend its loan and security agreement with Capital Foundry and extend it to 2025, with the amendment maintaining the revolving line of credit at $5.0 million and including additional types of collateral in line with Fr8Tech’s anticipated growth. “It has been great to see Fr8Tech evolve since we first started working with them in 2019, especially its accelerated growth in the past eighteen months,” said John Fox, Capital Foundry’s chief credit officer. “We look forward to the results we believe the company can achieve with this additional liquidity to continue to support its ambitious growth plans.”

To view the full press release, visit https://ibn.fm/zhp7m

About Freight Technologies Inc.

Freight Technologies (“Fr8Tech”) is a technology company developing solutions to optimize and automate the supply chain process. Its wholly owned subsidiary, Freight App Inc. (“Fr8App”), is a B2B cross-border shipping marketplace in the USMCA region powered by AI and machine learning. Focused on making shipping transparent and efficient, Fr8App provides carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international over-the-road (“OTR”) shipping. Fr8App uses its proprietary technology platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, broker, transportation management, fleet management, and committed capacity solutions. The company is headquartered in Houston, Texas. For more information, please visit Fr8Technologies.com.

NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at https://ibn.fm/FRGT

Corporate Communications

IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

About AINewsWire

AINewsWire is a leading communication platform focused on the latest advancements in AI, including the technologies, trends and trailblazers driving innovation forward. One of 60+ brands within the InvestorBrandNetwork (“IBN”), AINewsWire provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. Artificial intelligence (AI) is driving a new wave of innovation across various industries, and AINewsWire is committed to providing comprehensive coverage of the latest advancements, emerging trends, and key players in the field. AINewsWire offers unparalleled insights into the cutting-edge technologies that are transforming industries worldwide, from machine learning to natural language processing, robotics and autonomous systems. As the AI industry continues to evolve and shape the future of technology, AINewsWire strives to keep readers informed and up to date on the latest developments. By cutting through the overload of information in today’s market, AINewsWire brings its clients unparalleled visibility, recognition and brand awareness. AINewsWire is where news, content and information converge.

To receive SMS text alerts from AINewsWire, text “AI” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.AINewsWire.com

Please see full terms of use and disclaimers on the AINewsWire website applicable to all content provided by AINewsWire, wherever published or re-published: https://AINewsWire.com/Disclaimer

AINewsWire
Los Angeles, CA
www.AINewsWire.com
212.299.1717 Office
Editor@AINewsWire.com

AINewsWire is part of IBN.